Guideline Value for Narasuram Cross Street

Narasuram Cross Street guideline value

The current guideline value of Narasuram Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Narasuram Cross Street has changed

The guideline value for Narasuram Cross Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 146 per sq.ft. In 2003, it increased to Rs 250 per sq.ft, marking a change of +71%. The 2007 revision saw a significant jump to Rs 400 per sq.ft, an increase of +60%. However, in 2012, the value rose to Rs 2,200 per sq.ft, reflecting a substantial increase of +450%. The following revision in 2017 saw a decrease to Rs 1,474 per sq.ft, a change of -33%. The 2023 revision set the value at Rs 2,200 per sq.ft, followed by the latest revision in 2024, which established the current value at Rs 2,400 per sq.ft, an increase of +9%.

Overall, from 2002 to 2024, the guideline value has increased by +1544%. Notably, there are no figures available for the revisions from years other than those mentioned.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with 2024 guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which matches the current value for Narasuram Cross Street.

• Nannool Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Nanjil Nagar: Rs 1,100 per sq.ft (2024)
• Narayaniam Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Nandhini Nagar: Rs 990 per sq.ft (2024)
• Natarajan Salai: Rs 1,900 per sq.ft (2024)
• Nammazhvar Street (Senthil Nagar): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Narasuram Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narasuram Cross Street?

The Sub Registrar Office that covers Narasuram Cross Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thirumullaivoyal

The guideline value is a crucial factor during the registration process of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Narasuram Cross Street?

The current guideline value of Narasuram Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, starting from Rs 146 per sq.ft to Rs 2,400 per sq.ft in 2024, which is an overall increase of +1544%.

What is the land classification for Narasuram Cross Street?

Narasuram Cross Street is classified as Residential Class I Type - I under the land classification system.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Narasuram Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 24,00,000, the stamp duty at 7% would be Rs 1,68,000.